Fleetx Technologies, which owns and operates SaaS fleet management and predictive analytics platform Fleetx.io, has raised $3.1 million in a pre-Series B funding round from existing investors, including Singapore-based Beenext and India Quotient.
In a statement, Fleetx said, it will deploy the funding proceeds for scaling in India and other markets, strengthening product and technology, and hiring talent.
Founded in 2017 by Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, and Vishal Misra, Fleetx offers a suite of software-based products to help mid to large fleets to monitor and optimise their day-to-day logistics operations. The startup has also launched an enterprise product for industries to reduce delays and provide risk detection.
The Gurugram-based startup had raised $2.8 million as a part of its Series A round led by Beenext and India Quotient about eight months ago. The round had also seen the participation of Snapdeal founders Kunal Bahl and Rohit Bansal, Fung Capital managing director Rajesh Ranavat and Temasek Holdings associate director Rohan Ranavat.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from October 12-14, 2020.
